Showing posts with label North Salem Homes. Show all posts
Showing posts with label North Salem Homes. Show all posts

Monday, July 20, 2015

Modern Update Blasts a '70s Kitchen Out of the Past | North Salem Real Estate

Call it a case of hate at first sight. When Allie and Jeff Siarto began looking for a home in East Lansing, Michigan, the first house they looked at was a 1978 home that they quickly dismissed for its retro design, which included a wooden scalloped decorative feature over the kitchen sink that they just couldn’t get over. “It was not our style,” Allie says.

Tuesday, March 17, 2015

Negative Equity Real Estate | North Salem Homes

Temperatures are warming and potential homebuyers are coming out to shop, but they are finding precious little for sale.
Weak housing construction and the growth of the single-family rental market have pushed down supply for sure, but one nagging leftover of the housing crash is literally trapping potential sellers in their homes: Negative equity.
Some 5.4 million homes, or 10.4 percent of all homes with a mortgage, were still in a negative equity position, or "underwater," in the fourth quarter of 2014, according to CoreLogic, as their owners owe more on the mortgage than the home is currently worth. This is down considerably -18.9 percent, from a year ago-but it still keeps these borrowers from putting their homes on the market, because they would lose money. 
Additionally, of the 49.9 million U.S. homes with a mortgage, approximately 10 million (20 percent) have less than 20 percent equity, and 1.4 million have less than 5 percent, according to CoreLogic. These homeowners also would have a difficult time selling because not only would they lose money in the process, but they also might not qualify for a new mortgage.
"Negative equity continued to be a serious issue for the housing market and the U.S. economy," said Anand Nallathambi, president and CEO of CoreLogic. "We expect the situation to improve over the course of 2015."
Improvement will come with higher home prices. Rising prices in 2014 brought more than 1 million borrowers into a positive equity position. The problem, however, will take considerable time to work through and will continue to affect not only housing supply, but also consumer spending overall.

read more..

http://finance.yahoo.com/news/millions-underwater-homeowners-trapped-160310034.html

Wednesday, January 7, 2015

Fresh Ideas in a Former Tomato Packing Shed | North Salem Real Estate

 "We wanted to create a very flexible, adaptable space,” says architect Jamie Falla of the M House on Guernsey, one of the Channel Islands off the northwest coast of France. The former tomato packing shed is now a three-bedroom home designed to celebrate the building’s soaring roof, original wood and sunny location. “When we first saw the shed in 2010, it was just a big open-plan space with metal cladding on the exterior,” Falla says. “The plan was to keep the existing structure — the envelope — and preserve as much of that open space” as possible.

Inside the structure Falla and his team designed a box that sits within the open-plan space and contains the kitchen, storage, shower room and utility area. Across from the box, a glass-fronted platform hovers above the living room. Falla also added a single-story wing containing the bedrooms, two bathrooms and a study. He was designing the property to sell it, and not for a client, so he wanted to give it wide appeal. “It had to be flexible, but not having a client also gave us some freedom,” he says. “This is, essentially, an experimental building.”

Tuesday, September 9, 2014

A Walnut Wall of Storage Opens Up a Kitchen | North Salem Real Estate



Traditional kitchens reign supreme in this particular suburb of Philadelphia. And that’s exactly what this family of four didn’t want. So finding a local designer to do something different proved challenging. “They didn’t get what we were looking for,” says one of the homeowners. “We wanted someone who could think outside the box a little bit.”

They wanted something, well, the opposite of traditional. They wanted “all the cliché things, like clean lines, an open floor plan, all white, no upper cabinets,” the homeowner says. So they searched for home professionals on Houzz and came across general contractor Brian Osborne. “He just got us,” the homeowner says. Osborne and his team of designers and fabricators helped modernize the space by integrating a 30-foot black walnut wall of storage that took all the pressure off the cooking stations and hangout areas to create an incredibly spacious and airy kitchen.

Tuesday, August 5, 2014

Home price gains slow to 7.5% as forecast calls for further decline | North Salem Real Estate



Home prices nationwide, including distressed sales, increased 7.5% in June 2014 compared to June 2013, reflecting a general slowdown that continues and will worsen through June 2015.

The CoreLogic (CLGX) home price index forecast indicates that home prices, including distressed sales, are projected to increase 0.7% month over month from June 2014 to July 2014 and, on a year-over-year basis, by 5.7% from June 2014 to June 2015.

"Home price appreciation continued moderating in June with its slight month-over-month increase," said Mark Fleming, chief economist for CoreLogic. "This reversion to normality that we are finally experiencing is expected to continue across the country and should further alleviate concern over diminishing affordability and the risk of another asset bubble."

The good news is this change represents 28 months of consecutive year-over-year increases in home prices nationally. On a month-over-month basis, home prices nationwide, including distressed sales, increased 1% in June 2014 compared to May 2014.




read more....


http://www.housingwire.com/articles/30915-home-price-gains-slow-to-75-as-forecast-calls-for-further-decline

Thursday, June 19, 2014

Likable Tuscan-Style Water Mill House Chopped $500K | North Salem Real Estate


1095 Head Of Pond Road Water Mill

This property featured in Pricechopper a little over a month ago. Most commenters liked the house. "When I hear Tuscan-style, I automatically think of JerseyTuscan, which is generally pretty vile. This is quite nice and understated... aside from the gargantuan size, of course. One of the better mansion-ey homes I've seen." "I want to hate it. I really do. But it's not that bad. Except for the motorcycles." "I want to drive the motorcycles around the living room."
Now the price has been chopped $545K to $5.95M down from $6.495M. We say: make a deal to include the motorcycles and go for it, Joe and Sally Homebuyer! And let us have a spin around the living room after you close.

read more....



http://hamptons.curbed.com/archives/2014/06/18/likable_tuscanstyle_water_mill_house_chopped_500k.php

Wednesday, March 26, 2014

Million-dollar homes: March Madness edition | North Salem Homes

Housing is entering the heart of the spring season, but buyers are still not warming up to the market. Home sales are down across the nation as higher prices, tight credit and higher interest rates hold demand in a headlock. The nation's home builders are seeing improvements, but only on their higher-priced homes, which is where much of the focus is now.

 
Sales of homes priced above $750,000 increased 13 percent in February from a year ago, according to the National Association of Realtors. Homes priced below $250,000 fell 11 percent. Those lower-priced homes make up 64 percent of all home sales. The trouble on the lower end is that investors are finding less to buy as fewer homes fall into foreclosure. First-time home buyers, who should pick up the slack, are having trouble qualifying in today's mortgage market. Analysts argue this is no time for the Federal Reserve to be pulling out of the mortgage market.

"Until proven otherwise, these numbers are awful, and create a need for continued Fed accommodation and a positive technical backdrop for securitized products, especially credit," Bank of America analysts Justin Borst and Chris Flanagan wrote in a note to investors.
The bright spot, again, is the higher end. Sales of homes priced over $1 million are up over 14 percent from a year ago. What buyers get for a million dollars, however, varies greatly market to market. More than 40 percent of for-sale listings in metro San Francisco are over $1 million, as are more than 20 percent in Fairfield County, Conn., according to a report from Trulia, an online real estate company. The smallest million-dollar homes are in New York, typically less than 1,500 square feet, but those homes stretch to 6,000 square feet in the Kansas City area and Pittsburgh.

http://homes.yahoo.com/news/million-dollar-homes-march-madness-114800575.html

Friday, February 21, 2014

Harsh weather, tight supply sink U.S. home sales | North Salem NY Homes

Severe cold weather and a shortage of houses on the market pushed U.S. home resales to an 18-month low in January, the latest indication economic activity has hit a soft patch.
The National Association of Realtors said on Friday that home sales dropped 5.1 percent last month to an annual rate of 4.62 million units, the lowest level since July 2012.

The Realtors group said unseasonably cold weather was partly to blame, but it also acknowledged some fundamental weakness, with fewer homes on the market to choose from and higher mortgage rates and prices reducing affordability.

"Some housing activity will be delayed until spring," said Lawrence Yun, NAR chief economist. "At the same time, we cannot ignore the ongoing headwinds of tight credit, limited inventory, higher prices and higher mortgage interest rates."

The 30-year fixed mortgage rate is about a full percentage point higher than it was a year ago, even though rates have come down a bit since hitting a two-year high in September.

Sales tumbled in the Northeast, South and Midwest, which were hit by snow storms and ice last month. But they were down 7.3 percent in the West, an indication that other factors apart from the weather also weighed on sales.

Home resales, which peaked in July, have declined in five of the last six months, and in January were down 5.1 percent from a year-ago.


http://www.reuters.com/article/2014/02/21/us-usa-economy-housing-idUSBREA1K16J20140221

Friday, January 10, 2014

The quantified self: what it might mean for real estate | North Salem Real Estate

What does the “quantified self” even mean?
Have you ever kept a diary? This is probably the simplest way to think about what we mean when we talk about the quantified self.
The term was originally coined back in 2007 and in essence means “self-tracking,” which is to track/record all the data you can as it relates to a particular aspect of your personal life or situation. To get a more current definition, I reached out to the site quantifiedself.com, which came back with: “creating personal meaning from personal data.”
In the last few years with the advent of smartphones, always connected Internet devices and wearable computers, the quantified self has taken off in a big way.
What are the types of things people are measuring?
People who are self-tracking are now tracking many facets of their life from areas as broad as
  • Diet, health and exercise
  • Movement/travel
  • Mood and emotion
  • Spending patterns
  • Sleep
  • Personal productivity
- See more at: http://www.inman.com/next/the-quantified-self-what-it-might-mean-for-real-estate/?utm_source=20140110&utm_medium=email&utm_campaign=dailyheadlinesam#sthash.LINhfaLs.dpuf

Friday, December 27, 2013

Mortgage rates won’t derail 2014 housing market | North Salem Real Estate



Yes, the housing sector’s recovery has shown some signs of slowing down, as recently noted by Federal Reserve members.
Home prices are rising, and so are mortgage rates, making it tough for would-be buyers, particularly first-time purchasers, to close a deal on a new place. Meanwhile, the looming threats of new mortgage rules and pending housing-finance reform are adding uncertainty to the market.
Despite these challenges, economists say home sales will continue to grow next year. Why? Hiring in 2014 may be strong enough to unleash a chunk of the pent-up demand that built up during the recession.
“It’s almost going to be like a tug of war next year. You have what appears to be a recovering economy, but at the same time you have the prospect of higher interest rates,” said Nicolas Retsinas, senior lecturer in real estate at Harvard Business School. “Generally, when there is a tug of war between jobs and interest rates, jobs win.”
In addition, there’s evidence that purchasers are becoming used to the pricier sales environment, with recent data showing that sales of new single-family homes are close to the fastest pace since 2008. And while sales of existing homes slipped recently, they are expected to increase next year as inventories rise.
However, not all home sales will perform equally in 2014, according to forecasts. Sales of new homes are expected to rise faster than sales of existing homes, which make up a larger share of the market.
According to the National Association of Home Builders, a trade association, sales of new single-family homes are expected to hit 607,000 in 2014, compared with an annualized rate of 464,000 in November. If sales of new single-family homes rise above 600,000 next year, the rate would remain below an average of more than 1 million over the five years leading up to a 2005 peak, government data show.


http://www.marketwatch.com/story/mortgage-rates-wont-derail-2014-housing-market-2013-12-27

Monday, December 9, 2013

Best Ways to Use Radiant Orchid | North Salem Real Estate

I must confess, I was not a huge fan of Pantone’s 2013 Color of the Year, Emerald, as I tend to prefer greens that have more yellow in them (chartreuse) or blue (turquoise). So I was pleased to see Pantone’s new Color of the Year for 2014, Radiant Orchid — mostly because it represents a complete 180-degree shift from Emerald, as the colors are opposite each other on the color wheel. Let’s take a look at this head-turning — and sometimes head-shaking — color.

Monday, November 25, 2013

10 Things Today’s Buyers Look for in a Home | North Salem NY Homes

While David Letterman’s Top 10 lists generally culminate in a No. 1 ranking, the following list includes in no particular order 10 things that are important to buyers today, especially Millennials who represent a significant buyer niche in today’s market.

Quality of the neighborhood – The National Association of Realtor’s 2012 Profile of Buyers and Sellers revealed that neighborhoods are really important to buyers, but that neighborhood choice varies by household composition.

Convenience to job – Commuting is a necessary evil, but homes that are close to work enhance work-life balance, a growing priority for many Americans, especially Millennials.

Overall affordability of homes – With job markets tight and retirement funds depleted or eroded thanks to the Great Recession, it has never been more important to keep housing related costs as low as possible, ideally no more than one third of your pre-tax income.

Quality of schools – A recent survey by realtor.com revealed that nearly 45 percent of today’s buyers are willing to pay a premium for quality schools

Homes suited for the next 15 years – Just five years ago, buyers were looking to stay in their home about 10 years. Today, buyers expect to stay closer to 15, so it’s important to find a home that can support lifestyles as they evolve through that time period.





http://rismedia.com/2013-10-15/

Thursday, November 14, 2013

Foreclosure filings creep up a slight 2% | North Salem Homes

Foreclosure filings crept up 2% in the most recent weekly survey, but still declined 28% from year ago levels, RealtyTrac reported Thursday.

In all, the data firm recorded 133,919 filings in October.

For the 16th month in a row, judicial foreclosure auctions increased from year ago levels, with 30,023 foreclosure auctions nationwide in October, up 10% from the prior month and up 7% from last year.
Overall, there were 58,939 properties that started the foreclosure process for the first time in October, rising 2% from September, but down 34% from last year.

This marks the 15th consecutive month where foreclosure starts have declined on an annual basis, the data firm said.

Individually, Maryland, Delaware, New York, New Jersey, Pennsylvania, Connecticut and Florida witnessed the largest annual increases in scheduled judicial foreclosures. In particular, Maryland and Delaware shocked with dramatic 'judicial foreclosure' increases of 177% and 142%, respectively.




http://www.housingwire.com/articles/27952-foreclosure-filings-creep-up-a-slight-2

North Salem NY Real Estate Weekly Report | #RobReportBlog

Bedford New York Real Estate | Bedford NY Homes by Robert Paul Realtor » Blog Archive » North Salem NY Real Estate Weekly Report | #RobReportBlog

Wednesday, November 13, 2013

North Salem NY available homes report | #robreportblog

North Salem NY Weekly Real Estate Report

 
11/13/2013
Homes for sale50
Median Ask Price$799,450.00
Low Price$235,000.00
High Price$18,500,000.00
Average Size3288
Average Price/foot$405.00
Average DOM193
Average Ask Price$1,670,172.00 
source:  www.robertpaulsells.com